What is a Medicaid assessment?

A Medicaid assessment if a service of the Olsen Law Group in Orlando.

Attorney Tom Olsen: Robert, you just mentioned doing a Medicaid assessment. Tell us, the listeners, about that.

Attorney Robert Hidock: Well, Tom, what we like to be here and at the Olsen Law Group is very proactive with Medicaid planning. We offer a Medicaid assessment where someone will come in with all their financial information, and we will give them a blueprint of if something should happen, if a Medicaid crisis should arise, we'll have a plan of what we're going to do for them, so they don't have to spend time in crisis mode, wondering what's going to happen. We've done the worrying for them, we've actually come up with a plan, they can spend their time caring about their loved one and making sure they're getting the right medical attention. It's also designed to replicate their estate plan.

Attorney Tom Olsen: Robert, I know I've seen your Medicaid assessment before that you give to clients is quite thorough, and so a lot of people are out there wondering, "Tom, what of my assets are protected from nursing homes Medicaid, what of my assets are not protected? I got a home, I got rental property, I have 401k, I got a pension, I got IRAs, what's protected, what's not protected?" Well, the best way to figure that out, folks, is by doing a Medicaid assessment with you.

Attorney Robert Hidock: We do a Medicaid assessment, and I will literally break down what's protected, what's a countable asset, what's not countable. It's usually in a very comprehensive report, and then I'll break it down to diagrams as to exactly how much is countable and how much is not.

Attorney Tom Olsen: Okay, and I don't usually quote fees over the radio, but on this one, I want to let listeners know, because to do this Medicaid assessment, it's only $600.

Attorney Robert Hidock: Absolutely.

Attorney Tom Olsen: It comes in a notebook. It's nice and organized for you. The information that we give you today, it's going to be relevant a year from now, 5 years from now, 10 years from now, if you needed to go into a nursing home, you can share it with your kids. You can say, "Kids, if I need to go into a nursing home, here's a plan. It's all in place. Take it to go forward."

Attorney Robert Hidock: It's pennies to the dollar. If somebody had to pay private pay for a nursing home, the $600 might be the best investment they've ever made.

Attorney Tom Olsen: All right, very good. Folks, we'd love to assist you with that.